Following the news that over 60 new branches of Lidl would be opening in the country in the coming years, Migros has now thrown its hat into the ring. Not to be outdone, the Swiss supermarket has announced over 140 new stores will be built in the coming years, mainly around Zurich, Zug and Lake Geneva.
In an interview with Sonntagsblick, Migros CEO Mario Irminger confirmed that they would be opening over 140 new stores, as well as renovating 350 others. He noted that thanks to population growth, the company has “some catching up to do” when it comes to catering to fast-growing cities and cantons.
Specifically, the expansion will target Canton Zurich and eastern Aargau, across from Baden in the west to Wetzikon in the east. Communities around Lake Zurich and north of the city are also prime spots for expansion, as well as Canton Zug to the south. Finally, the company will begin expanding in French-speaking Switzerland, especially along Lake Geneva.
“In 2030, there will be around 200.000 additional households for whom Migros is the nearest grocery store. A specialised team is working on finding suitable locations,” Irminger noted.
In regard to ongoing price wars with German discounters Aldi and Lidl, Irminger reasserted Migros' commitment to cutting the price of 1.000 products by the summer of 2025. “We invest 500 million francs in reducing the price of our products - every year,” he explained.
While the grocery side of the business continues to expand, the leadership of Migros has been criticised for cutting thousands of jobs in its specialised stores. Already, the company has sold off its SportX, Melectronics, Bridge and BikeWorld brands to other companies, and plans to sell its travel agency Hotelplan in the coming months.
While he admitted that the cuts had weighed on him heavily, Irminger said he was “convinced that the decisions made were correct and necessary” - in the past Migros has argued that it wanted to sell off its unprofitable specialist stores and focus more on its regular branches. “I am proud to have got Migros, this huge tanker, moving. By separating from the specialist stores, we can focus better on our core business again,” he concluded.
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